US Airways tops carriers at Stewart Airport in profits

Tuesday

Oct 9, 2012 at 2:00 AM

STEWART AIRPORT — The nation's nine largest airlines, including the three serving Stewart International Airport, posted a collective profit of $2.3 billion in the second quarter of 2012, the U.S. Department of Transportation reported.

BY Michael Randall

STEWART AIRPORT — The nation's nine largest airlines, including the three serving Stewart International Airport, posted a collective profit of $2.3 billion in the second quarter of 2012, the U.S. Department of Transportation reported.

It was the fifth consecutive quarter the airlines, which carried 80 percent of the nation's passengers during the period, showed a collective operating profit.

However, it was the first time in those five quarters that all nine showed individual profits.

The analysis of the quarter found that among the Stewart-based airlines, US Airways, which flies to Philadelphia, had the most impressive numbers: a $395 million operating profit, representing a 10.3 percent profit margin. Its net income, which factors in non-operating income and expenses, one-time costs and income taxes, was $321 million.

JetBlue, which flies to Orlando and Fort Lauderdale, had an operating profit of $120 million, or 9.4 percent. Its net income was $52.5 million.

Delta, which dropped its Atlanta flights in September but still flies to Detroit from Stewart, had an operating profit of $368 million or 3.8 percent. The airline had a net loss of $120.4 million for the quarter.

The department also released its analysis of airline employment for July. Overall, the nation's so-called network or legacy carriers showed a 0.8 percent increase in full-time equivalent employees compared to July 2011. Two part-time employees are counted as one full-time employee in these calculations.

The department said this was the 20th consecutive month airline employment increased compared to the same month the previous year — like the revenue growth, a good sign as the industry continues to recover from the recession.

US Airways showed a 0.6 percent increase in full-time employees, while Delta was down 2.4 percent.

JetBlue showed a 6.1 percent increase in full-time equivalent employees, well above the 3.5 percent average increase among low-cost carriers.